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on a new tax release coming in the years for the creative industries like high end television and animation with new support for our world class visual effect. to help small firms increase. spend through the small business research initiative. we will fund the proposal po make growth available to small firms seeking advice on how to expand. and putting new control on what regulators can charge by giving a new requirement to have a -- growth perspective of employers. mr. deputy speaker, a vital sector for our economy and the cost of doing business is energy. creating a low carbon economy is done by create jobs rather than -- was a major step forward for new nuclear. today with help of we are also announcing our intelligence to take two projects to the next stage of development will support the manufacture of mission vessels in britain with new takes incentive and the honorable members has urged do you passionately and in a nonpartisan way about the damage of doing the famous ceramic industry and persuaded me we will exempt from next year the industrial processes for the industry and others f
ones is tax policy. and if mr. ryan's budget passes as you have suggested, then the top tax rate goes from 39% to 25%. which means that those who already have a lot will get a whole lot more. . i'm reminded of a quote by president roosevelt, and he id, it's -- this is to paraphrase. he said we're not measured by how much those who have get what we do who have little. this is where the great buying power of america should be in the bottom 99%, really the bottom 50% or 60%. i thank you for raising the tax policy in the ryan budget. the rest, because of the elimination of the debt actions, are going to see a stalling of their income. ms. norton: he does get balance within 10 years and look how he gets it. you still do not have like anything like a contribution, a real contribution, from those who have benefited the most from the tax cuts built on that chart. you are talking about it continues to come from the lowest part of the income stream -- income groups in the united states. i don't know when people will -- let the congress know they aren't going to take it anymore. the time has com
's the old washington fiscal game of janga. you try to build as much debt as you can take, as much taxes you can take until you topple the entire economy. this is the challenge that this week will have. this week republicans will have a budget that balances in ten years. the democrats' budget never balances. no household can run that way. >> let me challenge you on this point, because here is paul ryan this week, and he laid out very clearly what he thought the job was. let me play that. >> we think we owe the country a balanced budget. we think we owe the country solutions to the big problems that are plaguing our nation -- a debt crisis on the horizon, a slow-growing economy. people trapped in poverty. we're showing our answers. >> right, but the answers rely on $700 billion in savings from interest. most of the deficit reduction comes from repealing the president's health care reform, which nobody thinks is going to happen. so how seriously should this be viewed as a roadmap for a balanced budget? >> it should be very serious, because budgets -- >> you're not going to repeal obama care. >
to pick up. do not get too excited when all the obamacare taxes kick in next year. i would go into any of the markets like miami. the whole purchase to rent phenomenon, all the investors are jumping in and buying rental properties. the holster is wearing off on that. it did not turn out as good as they thought. look at those cities. vegas, phoenix, anything -- really, the fed induces this massive wild swing in bubbles. they are not sustainable. just watch out. dagen: anthony, it was great to see you. thanks a lot. connell: great to see you, as always. how about starbucks. this is a headline today. helps to explore different farming techniques. a disease called coffee rust. it has been hidden industry pretty hard. dagen: you can see through the pants. lulu lemon pulled some of its yoga pants off store shelves. the company claims the mistake impacts 17%. it was made by a supplier. lulu lemon offering full refunds to customers. they are trying to figure out what exactly happened. it is hard to make up a story this good. shares are down more than 5% today. connell: it is like christmas for
taxes and pay cuts, instead what they did was they taxed bank deposits. they're calling it a tax. a lot of folks are calling it a seizure. here's what's significant. even small depositors below the insurance threshold are going to get hit. the original number for small depositors below 100,000 euros was 6.5%. they're working in parliament right now about shifting that and any other subsequent plan suggests that if you have insured money it will still get hit. what did we see over the week whend this announcement happened on yesterday? runs on the atms at the banks in cypress because they'd shut down the banks as a result of this. they stopped all wire transfers and you also if you tried to take money out they had partitioned out the amount of money that you were supposed to be giveing to the government each though there hasn't been a vote in parliament. why did cypress need a bailout? its banks are bust. the reason the banks in sicypru they bet the greek debt would not be restructured but it was. that's left a lot of them insolvent. the banks in cyprus are huge, eight times the size of
from cyprus and concern about deposits being taxed obviously set off worries on wall street abroad and here at home obviously. sandra: opposite end of the spectrum, jcpenney, the retailers, jcpenney a huge rally today, nicole? >> a couple of reasons. isi group talking about the fact that they might turn into a reit-like entity. oppenheimer talking postively about jcpenney. david: apple, apple, even though the market came down i think apple stayed up about 12 bucks. why are they doing so well on the eve the samsung announcement? >> that is pretty amazing. once the news was out about samsung it took away some uncertainty. apple bucked the trend. sandra: best buy seeing a nice top. that was an up stock on a down day. >> best buy, the last quarter was a great one. they got positive analyst comments as well. jpmorgan initiated coverage with overweight rating. [closing bell rings] david: the bells are ringing. we're not at absolutely postively lowest point of the markets but very close to it as we see a down market. dow jones industrials down 61 points on the beginning of this trading we
by adopting cuts but in the tax codes, the tax breaks, the tax credits that are loaded up in the tax code that go mostly to the wealthiest americans. you are talking about getting rid of the tax benefits or loophole? >> that's exactly right. >> give me an example of this. is there enough money there? >> absolutely enough money to over $1.2 trillion over 10 years. we could get it, for example, from the corporate deferral on-shore profit did companies that make their profit did overseas, did he ever their payments, sometimes never pay them, and >> bill: that just encourages people to move their money or jobs offshore? >> it's an incentive. >> why should we be rewarding them for exporting jobs basically? >> what these corporate interests and wealthy americans do is hide spending in give them a check? we would is a no way. in the tax code, nobody is really examining that. >> bill: exact. >> special tax -- well, mortgage interest deductions for second homes. not just a first home. i will tell you, a big one is the fossil fuel subsidy. i am talking about oil an
were struggling under he harsh new austerity measures, the ryan plan would cut tax billers in most fortunate. last year the joint economic committee estimates that ryan's tax plan would lower taxes for millionaires by about $300,000 while raising taxes for individual taxpayers earning between $30,000 and $100,000 by over $4,000. how fair is that? at a time when income inequality is widely viewed as a very serious problem in our country, the ryan plan would make it worse. the gap between the haves and the have-nots would grow larger under the ryan plan. the ryan plan would ask tens of millions to bear additional burdens, pay additional taxes, face additional hardships. while it cut taxes for the fortunate few and preserved loopholes for big oil and spent an additional half million dollars on the military over the next 10 years. and at the end of a decade of paying -- of painful cuts, according to the nonpartisan tax policy center, the ryan budget would have managed to actually add $5.7 trillion to the deficit . a close look at the math makes it clear that the ryan budget can't recou
about the action by the board of equalization to improve the increase in the state gas tax. and just to clarify what that action was in 2009, 10. the state legislature adopted legislation that basically converted of what used to be proposition 42, which was funded from the sales tax on gas into a pure, based funding source. and to accomplish that, they had to develop language that directed the board of equalization, to maintain the same level of gross revenues, that the combined base excise tax and ropcysing 42 would have generated. s so the action to approve a 3.5 percent hike in the gas tax is consistent with what would have been the taxes that the motorists would have been paying without the tax swap and the board of equalization approval. in fact, in many ways, the board of equalization approval is almost ministerial in effect and nobody knows what would happen if they had would rejected it. that has happened and the money generates 3.5 percent and the tax is an additional 3.5 cents per gallon which is 500 million a year and it is dedicated to local streets and roads and to the s
of dollars of emergency crash and creditors impose onetime tax of 3% on all bank deposits under $130,000. >> going deep here. >> the tax could be closer to 10% on people who have over $640,000 in the bank. that's according to the "the wall street journal" this morning. people stood in long lines over the weekend to withdraw money before the policy went into effect and now russian president vladimir putin is calling the move, quote, unfair, unprofessional and dangerous. russian citizens make up the majority of billions of euros held in cypress bank. this is important. >> cypress. >> who cares about cyprus? >> come on, cyprus. are you telling me if somebody sneezes in cyprus we get a cold than on the nasdaq? >> tell us why. >> we have a cold on the nasdaq. the nasdaq is going down today. not too many people care about cyprus but a way the europeans have screwed up the bailout by getting the people to pay a part of the cost. you could have a run on the bank and europeans say why do i have my money in this bank? might be a tax on me next. it shows that europe is still a mess, that they h
to include tax expenditures, a large part of our federal expenditures in the tax code. and the military also needs to be part of deficit reduction. we also need to do this in a select way. these across-the-board sequestration cuts are not how we as well govern. we should be specific as to which programs are priority programs and which programs can be cut. i think that's where we are trying to find common ground between the democrats and republicans. there are discussions taking place among my colleagues on both sides of the aisle to try to find that common area of agreement. >> shannon: we all as americans wish you the best. i want to give you a chance to respond to criticism from jeff sessions. he says the senate budget, proposed and voted on by the committee is full of gimmicks and raises taxes by $1 trillion and increases spending and has no plan and makes no claim to ever balance the budget? >> well, the democratic budget from the senate -- it has more deficit reduction than the simpson-bowles proposal that we all thought was the right framework, just 2 years ago, so i think it is seriou
shareholders blame for the 7:00's problems. >> 7 on your side tax hot line is underway. here is the number. irs and california society of enrolled agents and united way are standing by to answer your questions. >> plus, fresh fish you won't find in a couple bay area supermarkets could signal a seafood change. after 4:30... >> rivalry between apple and samsung is intensifying including construction of a gleaming new headquarters. i'm david louie. we'll have the story still to come. >> at 410 a live look at traffic. this is the skyway. it's a usual bumper to bumper crawl. left to right traffic is go together lower deck of the bay bridge a little bit better for folks on the righthand side of the screen. back wit >>> two big supermarkets market chain as nounsd they're staying away from so called franken fish. trader joes says i it will not sell a new type of genetically modified salmon. it's a cross between an atlantic and pacific salmon. this video shows kit grow twice as fast as regular salmon and fda says it won't cause health problems or harm the environment. critics say it could threaten other
is not just a tax haven for russia, it is the tax haven for russian millionaires and billionaires. russia has invested $119 billion, that's with a "brks" in cyprus in 2011 alone. that's by far the largest recipient of russian investments in the world. equal amount of investment came back to russia from cyprus. funny how that works. russian investment is five times the total economic output for cyprus. russians account for $20 billion of total bank deposits or, tyler, as you mentioned, more than a third among the top russians in cyprus is the fert cider magnet now the biggest shareholder in the bank of cyprus. he has a lot of money in u.s. real estate as well. he brought donald trump's mansion and his daughter bout an apartment in sandy well. and alexander bought avraz steel. the mystery to me is why these wealthy russians kept so much money in cyprus when they knew the banks were in trouble. one reason is that there are fewer choices. if you look around the world, governments arie cracking down n tax evasion and money laundering. they're all complying with global capitalist. even with this 10
if republicans agreed to new tax increases. we have heard this before. however, the white house put a positive smpin on the meeting calling it a good substantive exchange and called it a good conversation. the president admitted more with abc news there is more to be done. >> ultimately it may be that the differences are just too wide. if their position is we can't do any revenue or we can only do revenue if we gut medicare or gut social security or medicaid. if that is the position we probably will not be able to get a deal. >> if your piece up on politico read conflicting reports, some say it was more of the same from the president and others say it was a step in the right direction for him to come up to the hill and visit bus. anything come out of this meeting yesterday and the ones that will follow today and the rest of the week? >> i would just replay that clip over and over and over again and that tells you everything you need to know about the next year. the president wants tax increases and he does not want to do a bill with big changes in entitlement reforms. republicans don't want ta
't the president, but the governor of california, and tax reform happened in that state. and it wasn't until later, ironically back in california, when ronald reagan as the president signed into raw the economic recovery -- into law the economic recovery act. real reform happened in the states. as was mentioned yesterday, there are now in america some 30 states that have republican governors and nearly as many that have republican legislatures. [applause] and so that's the good news. the good news is we have success, and it's happening in our states, and we can learn from that to tell our friends and our colleagues in washington how to move forward. because, you see, in the states to be successful we have to be optimistic. we have to be relevant. and most importantly, we have to be courageous. let me talk to you a little bit about each of those three things. you see, when it talks about being inspirational and optimistics, one of the things that's interesting is when i first ran for governor -- i have to say first because who would have thought i'd have to get elected twice in the same term -- [la
melissa: welcome. i'm melissa francis. lori: i'm lori i i rothman. voting to delay a tax on the bailout, and now there's reports the finance minister is stepping down. we have reaction with the trading president, the former cypress trade representative to the u.s.. he'll be joining us. >> treasury secretary jack lew meeting with the chinese president on the agenda of growing concerns about china ease role in cyber attacks. melissa: targeting seg represents in new york a week after a judge rejected the ban on large drinks. we get the verdict with the judge andrew going after soda, ear buds, cigarettes, what's next? seriously. lori: only can guess. it is back down to the floor, new hour here on "markets now," and i know cypress is driving action again today. >> it is. we are seeing headlines that the president will be talking with angela merkel, obviously, another development pertaining to what we see in cypress, which then, obviously, really rules the e.u. markets and our markets here at home. yesterday, for example, we lost a lot of money in the global market with all the
a plan for the new budget, including new taxes. how much you ask? reaction from one of the top republican leaders in the house on that dollar figure. martha: how about this? there is a report out there that a hacker is giving out confidential memos on the terror attack in benghazi. how could this have happened when lawmakers and the victims families still do not have any answers in terms of what they have been demanding? big questions this morning. john bolton on that. >> the security in benghazi was a struggle and remain ad struggle throughout my time there. the situation remained uncertain and the reports from some libyans indicated it was getting worse. diplomatic security remained weak. in april there was only one u.s. diplomatic security agent stationed there. ♪ [ male announcer ] help brazil reduce its overall reliance on foreign imports with the launch of the country's largest petrochemical operation. ♪ when emerson takes up the challenge, "it's never been done before" simply bemes consider it solved. emerson. ♪ given way to sleeping. tossing and turning have where sleepless
of the party right now is that it is anti-tax and once big cuts in the size of government. and that has not changed. and through the whole budget wars we've been seeing, the sequester, i think this came up the last time i was here. the economic conservatives, the low tax, small government conservatives have established their supremacy. they have beaten out the national security hawks who didn't want to see cuts to defense. i think this is an example where they're beating the social conservatives who aren't ready for a shift in gay marriage. opposition within the party to gay marriage is substantial and they don't want a more liberalized immigration policy. so the one thing that is still here is low taxes, including on the wealthy, and deep cuts to government. i think that is a fundamental problem for the party. it cause them problems with all kinds of groups. there is only so much you can do when you change the language as long as you hold on to the tax and spending cuts policies. >> you touched on immigration policy. i think lawmakers in washington on the republican side see it as esse
americans. seasked them to please shut theu tax takes because we understand the negative effect our taxes would have on our fragile o economy and the millions of americans still looking for alr work. it's also because we know washington democrats gotd rememe $600 billion in taxes they demanded earlier this year.han and $1 trillion they got in taxes from obamacare timegot in taxes from obamacare we tried that. in fact, at a time when americans believe about half of every dollar they send to washington is wasted, the democratic budget would increase democratic budget would increase they nearly 62%. it. and it will let medicare and social security drift ever closer to bankruptcy. and then there's the democrats' $1.5 trillion tax hike. that's trillion with a "t." let me just repeat that. any senator who votes for that budget is voting for a $1.5 trillion tax hike, the largest tax hike in american history. so the senate democrat budget is more than just disappointing. it's extreme. extreme. it's really one of the most extreme, most left-wing budgets of the modern era. it says something, i thin
's not going to happen. you talk about a trillion dollars of new taxes for patty murray that is unlikely to happen. where is that middle? >> it's going to take the president to forge and find the middle, which is why, again, i echo the points made at the beginning of the show and to mike's point about the weirdness of the town, there was a time when this was not weird. you come from one of the great states and one of the great leaders who helped create this environment, the great tip o'neill understood you had to work with both sides. >> and teddy kennedy. >> no doubt about it. the most productive leader was teddy kennedy in the senate and not only washington. it takes the president to unthaw this. he is going to probably take as many arrows as you said before from the democrats as he will republicans. there are democrats who are staunchly opposed to spinning discipline around entitlement. >> can i say it's actually nice? because this president really hasn't crossed his base a lot the past four years. it's nice for me to be able to say to republicans, who say i think legitimately say he
taxes. there are less taxes going into the government. it is because the government cannot balance our budget, cannot act responsibly, cannot work together. host: paul on the air twitter p the " t " huffington post," -- sing on the elderly in theirr of americans 50s at risk of hunter grew by 40%. according to "the huffington post," rising gas prices as low as rising electricity is only exacerbating the trend among some of america's elderly. mike is on the phone in chicago. our question is what is the government's role when it comes to hunker in america? caller: i am a long time listener and a first-time caller. this kind of stuck in there with me. the problem with government is waste.ot watching the you have a lot -- you have an onslaught of people using link texting on iphones. they are taking advantage of the system. if our government to find out who really need it and give it to them -- people who can work should work. host: thank you for the call. to not be a stranger. if you have access to the internet, "the washington post" has this story on their website. the focus is on one rho
vitality of the population. our population grew by 50%, but our tax base stayed the same. people who are here legally, especially the new american citizens, are looking for jobs and they are scarce. 22 million americans are out of work, and now the proposal is to waive the carrot of citizenship to millions more. and when we were talking about giving amnesty to millions, maybe 20 million illegal aliens, how much more scarce will those jobs become? mr. speaker, we have heard these proposals before. in 1986 we said that if we granted amnesty there would only be about 1.5 million people who would be included. in truth it turned out to be twice that amount. we were also told that it would never happen again. our borders would be secure and this problem would never occur again. in truth that was not true. so now 27 years later our borders still aren't secure and here we are doing this all over again. well, we got fooled once. by news reports we were told there were 11 million illegal aliens in this nation right now. by using 1986 as a yardstick we can guess by offering amnesty there might
and medicaid, give the wealthy yet another tax break, put most of the burden on the poor and middle class and repeal obama care. this budget is going nowhere. it will be dead on arrival in the senate. it is pure fiscal mastur va tion. yet paul ryan gets credit for being a serious thinker. i will tell you this if paul ryan is a serious thinker i am an astronaut. take a look at the budget. doesn't add up. tomorrow, congressman keith ellison and peter welch, oh, boy. can't wait for that. come back and join us right here tomorrow. >> this is "the bill press show." [ ♪ theme ♪ ] >> stephanie: happy wednesday everybody. jacki schechner, you know i have so few things in my life. look how happy i am about my new coffee mug. >> what does it say? >> stephanie: it is green in time for st. patrick's day. >> ooh. does that mean there's no pinch ug? >> stephanie: here now is colin farrell. >> messing about with mrs. all the rumors are true. >> i got about a third of that. then again if he looks like colin farrell, it doesn't matter. >> stephanie: all right. now here we are. we'
with your 401(k)? well, over the weekend, european policymakers agreed to bail them out by imposing a tax on the savings accounts of people who live there. that's right. they're actually taking the bailout money directly from people's bank accounts. of course, that sent folks running to their atms to withdraw their money, sparking a panic. now there's concern the same thing will happen in other parts of europe. and even though wall street is hanging tough, could the cyprus crisis impact us down the line? tom foreman has a fancy show-and-tell to help break it all down for us. tom, thanks for joining us. i understand why cypriots are worried, but why should americans be? >> because this can rattle your wallet. >> really? >> look at this over here. i start with the rhetorical question. what do shreveport, louisiana, knoxville, tennessee, have in common? they have bigger economies than cyprus. it has over a million people. gdp of about 24 billion. but this place is in big trouble right now, because of the issue of debt. what they have is a massive debt. they're spending more than they have, s
. the sequencing done right on this cut spending cuts and tax reform. things sound great and they're moving along now. but joe, as we talked about earlier, you're going to have reticent democrats. and even key congressional races who are going to slow down a bit and saying, look, i want immigration and guns dealt with, what are we doing about the economy and the budget, the debt, and tax reform? >> and this is, richard haas, you can only push people so far, i mean, not the republicans' best friend. this weekend said democrats you're about to lose me. i pay 40% federal, 15%. well, i hear we have it cued up. let's go. this is bill maher this weekend. >> -- actually do pay the freight in this country. i just saw the statistics, something like 70%. and here in california, i'm just going to say, liberals, you could actually lose me. it's outrageous what we're paying. over -- i'm willing to pay my share, but yeah, it's ridiculous. >> and not only that -- >> wow. >> people like bill maher pay 55% in california, people in new york pay over 50%. in new jersey, why is a republican sitting at 70% plus appro
meltdown. the parliament rejected an unprecedented tax on bank deposits. that was a key part of the eu bailout terms. the finance minister is in moscow today with mounting speculation that russia could step in with a safety plan to safeguard russian deposits in cyprus. steve sedgwick is in moscow where he caught up with the finance minister there an hour or so ago. steve? >> they turned to russians once again. there's a loan on the table from russians dating back from 2011 so it's not the exception to it the rule for the cypriots to turn to the russians. the russians themselves are indignant they weren't brought into talks. let's hear what he had to say earlier on about the state of the current talks. >> first meeting very constructive. very honest discussion. we underscored how difficult the situation is and we'll now continue our discussions to find a solution by which we hope we will get some support from russia. >> in terms of that support, are we talking about a change of terms for the current existing 2.5 billion euro loan and an extension of 5 billion loan in addition to that? >
out and share that conservative message of liberty and less government and lower taxes and individual responsibility. it is time we all stop preaching to the choir. let's grow. [applause] america already has one party that is expert at pitting groups against one another. we will never win a contest of identity politics. ee have to believe in america xceptionalism that no one is guaranteed success the everyone is guaranteed an equal opportunity at success. [applause] the greatest lie that the liberals tell is that government is the way to realize this. there is a reason that washington d.c. is an island of prosperity and it's a nation mired. the more it picks winners and losers, the more crony capitalists win, the more the rest of us lose. whether it is clean energy or free obama phones or prophylactics -- if he did not have a team of lobbyists in dc you are not at the table. you are on the menu. [applause] if mrs. thatcher with us here today she would remind as there is a big difference between being pro-business and being pro-free market. it is time for we, the people, to break out o
to the economic policies of the last administration. this is the path to more tax cuts for the rich but less opportunity for the middle class to get ahead. it is a path not to prosperity, which can only truly be built from the middle out, but to the deterioration of our national infrastructure and the decline of our schools and the dismantling of the medicare promise we've made to our seniors. this approach in fact was on the ballot last november. voters around the country rejected it. instead, they want an approach that puts the middle class first, that returns our nation to the fiscal and economic policies that have worked for this country before by focusing on jobs and the economy, cutting spending responsibly, and calling on the wealthiest americans to pay their fair share. the senate budget, mr. president, which we put out today, reflects the progrowth, promiddle-class agenda that the american people went to the polls and supported in november. our budget is really built on three principles. number one -- we need to protect our fragile economic recovery. create jobs and invest in long-t
. republicans falsely claim democratic budget increases taxes by $1.5 trillion. as you know the republicans have spent years pressuring democrats to write a budget so they can criticize it and attack it -- so they are assuming the sequestration stays in place which everybody thinks is dumb. so if we're just going to have these fault math arguments i don't know how we're going to get anything done, do you? >> and the false math goes even further, stephanie. their budget wants to reduce the rates on the top wage earners, but they don't tell you how they are going to do it. but in the end it give people who make over a million dollars a decrease in taxes every year. so $200,000 more in tax breaks for the richest -- >> that sounds fair. >> it makes no sense. and then when you ask how they are going to do it? they still protect the tax exemptions for companies who send jobs overseas oil companies, corporate jets -- it's almost too hard to debate something that is this silly. >> stephanie: i know you new there, but do you see any way out of this, that we we -- literally are s
and the latest deposit tax scheme. happy anniversary, apple dividend and it was a year ago when the tech giant announced its dividend in 17 years. will apple succumb to the bigger payout as it faces stiffer competition from samsung. lululemon doing the downward facing dog with the transparency with the iconic black yoga pants prompting the retailer to cut sales guidance and boeing clinches an order from ryanair. of course, we begin with the markets. the dow and the s&p 500 hoping to avoid their first three-day losing streak of the year. wall street will be paying close attention in about three hours from now. that country's parliament scheduled to vote on a proposed tax on bank deposits and the controversial measure appears set to go down in defeat. here in the u.s., policymakers begin a two-day meeting in which they're expected to hold current policy. this is one of the meetings where we will get a press conference and people will be hanging on every word and every use of every adjective coming out of the fed chairman's mouth. are you expecting anything? >> i think that, frankly, we are looki
realistically think it's going away any time soon? the republican fantasy budget reduces taxes dramatically without a hint of how it would be possible. without exploding the deficit or dramatically raising taxes on the middle class. this is consistent with what the romney ryan ticket said on the campaign trail last fall. the same issue where they dodged, assembled, and ignored the perfectly reasonable question how is it possible? six months later it's back in the budget but there's still -- but there still is no answer. during the last 40 years there have been only four budgets without deficits. the last three clinton budgets and the one that george bush inherited from bill clinton. in each case taxes as a percentage of the total economy were over 20%. in this republican fantasy land budgets are balanced with revenues at 19% of the economy, yet meeting the needs of 78 million more seniors and a infrastructure deficit that is growing as america is falling apart. clearly this is not remotely possible if we are going to enjoy anything like our current quality of life. there is a real world int
of social security tax are all slowing our progress to where we should be. >> michael: of course these companies would be hiring accountants now because they're making so much damn money because they're not paying enough wages to their workers. that's part and parcel of how it works. >> yes remember a fundamental tenant of the chicago school and i went to the chicago school is to get rid of unions, that means driving down wages. i just reported in my column in tax analysts, tax notes, if you take the average increase of income for the bottom 90% of americans from 1966 when lbj was president to 2011, it's $59. you measure that as one inch. the top ten percent line is 163 feet and the top 1% of the top percent. the mitt romney-bill gates crowd, five miles to one inch. >> michael: that's amazing. that's amazing. tell me, is this how things start? is there a reason to be optimistic? >> yes well, look, we got into this terrible situation because of three things. we had a president who said tax cuts will make everybody's income grow up. i have written and challenged the data, no, incom
mechanism for taking care of the poor. this is one of the reasons that we give tax deductions to churches. because they do that. why is the government trying to duplicate what they are supposed to be doing. we need to think smartly about the ways we use our resources and use our money. in 2009, 40 of the wealthiest families in america pledged to give away health of their wealth to charity. go someplace else in the world and ask for the of the wealthiest families to give away their wealth. they will look at you like you have six heads. this is the phenomena of america. it is not the government's responsibility. it is our responsibility as citizens. [cheers and applause] as we are talking about fairness, let's talk about taxes. me --eople criticize criticized me at the prayer breakfast for bringing up god and the bible. it is a prayer breakfast, right? i do not understand that. if got things proportionality is clear come who are we to say it is unfair? the minute you begin to deviate away from proportionality, you begin to inject your own philosophy. that is always going to leave you in one
of entitlement in exchange for new taxes. despite reports the meetings are just for show. party leaders are optimistic. >> they were inspiring optimistic realistic and called for unit and invited any thoughts we had before going forward. >> it was a candid exchange with a number of our members asking questions of the president. as you can image talked about all different issues confronting us with considerable proportion of time transcended issue of time that is our deficit and debt. >> our nation's debt $16 trillion. >> it is time now to brew on this. here's what we would like you to brew on today. a recent report found that more companies are turning to tracking devices to monitor employee's habits to find out how they are interacting with co-workers. bank of america did this when team members talked to each other often. one ceo persworker said they co be recorded by watching movements>> or reading e-mails. >> companies putting sensors on employees to track their every move? is this just fine or is it over the line? send your comments over to us. you can tweet them to us at fox friend
's a serious blow to your budget -- like getting hit with a new tax coming right out of your pocket. over the past four years, as part of our all-of-the-above energy strategy, we've taken steps to soften that blow by making sure our cars use less gas. we've put in place the toughest fuel economy standards in our history so that by the middle of the next decade, our cars will go twice as far on a gallon of gas. over the life of a new car, the average family will save more than $8,000 at the pump. but the only way we're going to break this cycle of spiking gas prices for good is to shift our cars and trucks off of oil for good. that's why, in my state of the union address, i called on congress to set up an energy security trust to fund research into new technologies that will help us reach that goal. here's how it would work. much of our energy is drawn from lands and waters that we, the public, own together. so i'm proposing that we take some of our oil and gas revenues from public lands and put it towards research that will benefit the public, so that we can support american ingenuity wit
or to the level of payroll taxes. the idea behind switching to the chained cpi is it will reduce promised benefits, and it's really does help us get to that goal. the question is is this a good way to a college that goal? when we think about slowing the growth of benefits, i think it's important for us to focus not just on the level of benefits but on their structure. so the key russian here is given a level of lifetime benefits, what's the best way to pay that out over a person's retirement. now, what are the key features of social security, it provides a real annuity, and inflation indexed life annuity. that is, and if it's okay for life and they are adjusted for inflation. that's pretty rare in a private market. so it's a valuable thing for most people. it protection not just against outliving your savings but also against inflation. if we think that social security should be paid as a real annuity, one question we have to think about is how do we index benefits for inflation. that is, what is the appropriate cost-of-living measure. there are a couple of different options. there is the cpi-w wh
forward with a plan that gives the biggest tax rate in the world to the richest. paying for it with huge slashes in programs for middle class working people and the poor. call it ryan shrugged. it kills the president's health care plan outright in its crib. dumps medicare for a cheapskate voucher scheme. and offloads medicaid on to the states and steals from the ordinary people, that old 47%, and gives a bundle to the elite at the top. why is ryan doing this? you just have to ask, why after getting beaten and rejected in the presidential election last november is the vice presidential candidate coming out here trying to etch-a-sketch the whole thing, pretend the election never happened? tell me, where's ryan express, taking the republican party further off the cliff? if he's giving up -- what's he doing? giving us a souvenir roadmap of where they all went wrong? in a moment we'll be joined by congresswoman debbie wasserman-schultz. with us now, "washington post's" ezra klein and msnbc political analyst. thank you, ezra. i want to get to the basics. the boxcar information here. why in the
in the unlikely, deep blue state of washington. talkingt door-to-door, about taxes and other items, and they flip them to a fiscally responsible majority, is. -- and they flipped them. the torch of liberty, the constitution in our country, will they perish or last? if we stand and speak for our principles, if we show americans our vision for the future, if we fight for freedom, our country will last. [applause] glasses with a powerful elite? the face ofnk in opposition? or will you stand boldly on principle? patriots, stand with us and fight for freedom, fight for our constitution, fight with us for the rights endowed by our creator, life, liberty, and the pursuit of happiness, fight for a better future, like ronald reagan did, like. paul, michele bachmann, scott walker. tea party patriots around this country do it every day. when you stand and fight, we will stand with you. when they fight on capitol hill, together, we will have their back. we will stand and fight for those who fight for us. fight for freedom. fight for a better future. fight. thank you so much. god bless you. god bless america.
and start reporting new revenue, not higher taxes but closing those tax loopholes to raise new revenue, but john boehner once again says don't talk to me about raising taxes. all nothing funner than watching republicans eat each other alive. >> the troops love me. (vo) tv and radio talk show host stephanie miller rounds out current's morning news block. >> you're welcome current tv audience for the visual candy. just be grateful current tv does not come in smellivision. the sweatshirt is nice and all but i could use a golden lasso. (vo) only on current tv. >> if you believe in state's rights but still support the drug war you must be high. >> "viewpoint" digs deep into the issues of the day. >> do you think that there is any chance we'll see this president even say the words "carbon tax"? >> with an open mind... >> has the time finally come for real immigration reform? >> ...and a distinctly satirical point of view. >> but you mentioned "great leadership" so i want to talk about donald rumsfeld. >> (laughter). >> watch the show. >> only on current tv. you know who is coming on to
years. while cutting taxes every year. i have dedicated much of my adult life to revolutionize our schools so that school serves children and parents. you must know this, all of our successes at the state level, and all of the work being done in the private sector can be undone if we continue to lose presidential elections. we will forfeit our ability to chart a better future for our republic. this would be tragic in every sense of the world. as you know, sam is the former ceo of ibm. probably the best ceo in america in the last decade. sam is also a fantastic human being. he's easy to talk to, but he is also a visionary and a true leader. he told me an amazing story. withs deeply involved assembling the team that created watson, a supercomputer that can understand natural language with all the ambiguities associated with human speech. watson can read through more than 200 pages of text to find an answer in less than three seconds. what you do when you have this kind of amazing capability at your fingertips? do you know what watson is doing today? it is saving lives. it is being us
in taxes. so, let's do the math here. leaving a deficit this year alone of $900 billion which will then be added to the nearly $17 trillion debt. democratic party doesn't seem to care. and liberal americans are putting all of us in danger by their inflexibility on the spending issue. republican senator tom coal berne indicates the senators could save almost 300 billion bucks a year simply by cutting out waste in duplicate programs. let's get very specific for you doubters out there. very specific. please consider these facts. am i being nice? the national institutes of health recently awarded $1.5 million to a boston hospital. to study why many lesbians are overweight and most gay men are not. the feds calling this a silg can't -- significant public health issue. are you kidding me? why am i paying for that? let the overweight lesbians go to weight watchers if they want to like everybody else. here is another one, nasa will spend close to $1 million. researching a quote, mars menu. recipes for food that could some day be served on the planet mars. here is a bulletin. money is
tax year 2009. the agency says more than 984,000 americans have yet to file their 2009 returns. the irs says if you want to get any money back from returns in 2009 now is the time to do those taxes. 2009 tax returns must be submitted by april 15th of this year too get your refund. otherwise the money is handed over to the u.s. treasury. >>> all right, ticketed for tailgating. what a recently cited sheriff is now saying about his citation. >>> plus, the grand princess has finally left san francisco on its maiden voyage. how the cruise ship is expected to help the city over the next year? >>> plus a car-wash for a cause. the fundraiser to help the family i of a young woman found dead on caltrain tracks. >>> we have more developing news coming into the ktvu channel 2 news newsroom and it comes to us from the sierras, where a search is underway right now at a popular ski resort for a missing bay area man. 45-year-old david hanholt of los gatos is reported missing by frens friends at squaw valley of the placer county sheriff is now involved in the search. a crusship that makes san f
to tax its bank depositors. the euro falls to its lowest level since november. >>> ben bernanke and the fed get down to business. what should we expect after its two-day meeting ends tomorrow? we'll ask former federal reserve governor randy crosser in. >> and what does the ceo of one of the world's iconic brands think of the economy and the american consumer? susie sits down with the top man at coca-cola. all that and more coming up right now on "nbr." good evening and welcome to our public television viewers. susie, once again, little cyprus making big economic noise today. >> you're right, tyler. actually a big win for citizens in cyprus. lawmakers rejected today an unpopular and unprecedented proposal to tax bank deposits. it was part of a larger eurozone bailout plan to rescue those banks and keep the nation solvent. the crucial vote came after a wave of protests, and as cypr t cypriots scrambled to withdraw cash from their atms. bertha coombs joins us with more on today's historic vote and what's ahead for cyprus? >> what's ahead is a very big question. the world was watch
acts which enforced a heavy tax and banned indians from collecting or selling salt. gandhi and dozens of supporters set out for the coast where they planned to make their own salt from sea water. by the time they got there gandhi's followers numbered in the tens of thousands. his campaign of nonviolence civil disobedience auto would soon spread across the subcontinent. after 17 years britain finally granted india its independence. gandhi took a giant step towards freedom 83 years ago today. and now you know the news for this tuesday, march the 12th, 2013. or wednesday march the 13th here because it's past midnight but don't worry about it. when you get up tomorrow, it will be wednesday. unless -- i'm shepard smith. we will see you back here tomorrow or later today as we continue to watch for a new pope. our coverage begins at 4:30 in the morning eastern time. i dare you to get up with us. until then, good night. >> bill: the o'reilly factor is on. tonight. >> medicare and medicaid. >> bill: that is not a specific program. alan colmes back tonight and we will present some very specific
,ave tax but neither would balance the budget in 10 years. also the congressional black caucus and the congressional progressive caucus will be introducing budget. it's possible a ryan version could be introduced in the senate. >> what is likely to happen in the senate this week? >> it will be democrats making the case for the patty murray budget. convince someto democratic senators who may not support that budget. they will have to sell it to democratic senators as well as republicans. no republicans are likely to vote for the budget. they will be calling for more spending cuts, no tax increases, balancing the budget sooner. >> republicans say this to be the first time in four years they have agreed to put forward a plan. why is this your difference? are a number of different things. there is a law that was passed that the members of congress will not get paid unless the have a budget resolution. , the debtwo years limit law basically established discretionary spending amounts, so you technically did not need a budget the last couple of years. also, democrats in the senate hav
's described as about as complex as doing your taxes and that's only the first part of the process toward getting your new obamacare health insurance. trace gallagher has more from our west coast news room, trace. >> reporter: if i can, megyn, take you back to when then speaker nancy pelosi said this about obamacare. >> we have to pass the bill so that you can find out what is in it away from the fog of the controversy. >> reporter: well, how is this for getting through the fog of controversy? if you want to find out what's in the bill, take a look at this, right? there's a little itty bitty pile on the right. that's the actual bill. that's 2700 pages. now, the original bill, there it is, that thing next to it, that tower, seven-foot tower, that's 20,000 pages, that's the regulations that go along with obamacare. now, of course that's silly, none of us has to go through and read that thing, right? if you want to apply for obamacare in the form of medicaid or the children's health program, you will need to fill out this 21-page health and human services application and you might need a l
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